PVH Corp (PVH)

[MCArmel1]

Phillips-Van Heusen beats by $0.08, misses on revenue

Dec 3 2014, 16:06 ET | About: Phillips-Van Heusen Corpo... (PVH) | By: Jignesh Mehta, SA News Editor

Phillips-Van Heusen (NYSE:PVH): FQ3 EPS of $2.56 beats by $0.08.
Revenue of $2.23B (-1.3% Y/Y) misses by $30M.
Shares -1.22% AH.
Press Release

http://seekingalpha.com/news/2159425-phillips-van-heusen-beats-by-0_08-misses-on-revenue?user_id=11264171&uprof=45#email_link


PVH Corp. Reports 2014 Third Quarter Results
Wed December 3, 2014 4:02 PM|Business Wire | About: PVH

• THIRD QUARTER NON-GAAP EPS WAS $2.56, EXCEEDING GUIDANCE OF $2.45 - $2.50; THIRD QUARTER GAAP EPS WAS $2.71
• GIVEN UNFAVORABLE FOREIGN EXCHANGE RATES, FULL YEAR 2014 NON-GAAP EPS GUIDANCE REVISED TO $7.25 - $7.30

NEW YORK--(BUSINESS WIRE)-- PVH Corp. (NYSE:PVH) reported 2014 third quarter results and updated 2014 guidance.

Non-GAAP Amounts:

Non-GAAP amounts discussed in this release exclude the items that are described in this release under the heading Non-GAAP Exclusions. Reconciliations of GAAP to non-GAAP amounts are presented later in this release and identify and quantify all excluded items.

Overview of Third Quarter Results:
• Earnings per share on a non-GAAP basis was $2.56, an 11% increase as compared to $2.30 in the prior years third quarter.
• GAAP earnings per share was $2.71, a 14% increase as compared to $2.37 in the prior years third quarter.
• Revenue was $2.23 billion, a 2% increase over the prior years third quarter amount excluding $67 million of revenue related to the Bass business (which was sold on the first day of the fourth quarter of 2013). Third quarter 2014 revenue was negatively impacted by approximately $30 million, or 1%, due to foreign currency translation. Revenue decreased 1% from the prior year period including the Bass revenue. Revenue changes by business from the prior year period included (i) a 2% increase in the Calvin Klein business, which includes a 1% negative impact from foreign currency translation; (ii) a 1% increase in the Tommy Hilfiger business, which includes a 2% negative impact from foreign currency translation; and (iii) a 3% increase in the Heritage Brands business excluding the $67 million of 2013 Bass revenue, or a 10% decrease in the Heritage Brands business including the 2013 Bass revenue.

More...

http://seekingalpha.com/pr/11885605-pvh-corp-reports-2014-third-quarter-results